Factoring Services in Uzbekistan Reach 6.6 Trillion Soums

Tashkent, Uzbekistan (UzDaily.com) — In the third quarter of 2025, credit institutions provided factoring services totaling 6.6 trillion soums, of which 6.1 trillion soums (93%) came from commercial banks and 453 billion soums (7%) from microfinance institutions, according to the Central Bank of Uzbekistan.

Of the total volume, 3.3 trillion soums (50%) were digital factoring services, with 1.8 trillion soums (56%) conducted through the electronic factoring platform Ozplanet and 1.5 trillion soums (44%) through the Finmakon platform.

Growing demand among businesses for working capital via factoring has contributed to an increase in the volume of services. In 2024, the highest monthly figure was recorded in December at 630 billion soums, while in June and July 2025 the volume reached 1.1 trillion soums, and in September it amounted to 849 billion soums.

Following Presidential Decree PF–109 of 12 August 2024, credit institutions provided factoring services to business entities amounting to 7.8 trillion soums over the last four months of 2024 and the period from January to September 2025.

In January–September 2025, state-owned commercial banks provided 3.4 trillion soums (56%) in factoring services, while private banks accounted for 2.7 trillion soums (44%).

Banks with state participation carried out the largest number of factoring operations: Asaka Bank — 1 trillion soums (with 508 billion soums through the electronic platform), Uzsanoatqurilishbank — 735 billion soums (695 billion soums), and O‘zmilliybank — 659 billion soums (450 billion soums). Among private banks, the leaders were Kapitalbank — 1.2 trillion soums (31 billion soums), Hamkorbank — 564 billion soums (246 billion soums), and Asia Alliance Bank — 252 billion soums (143 billion soums).

Microfinance organizations financed accounts receivable totaling 453 billion soums during the reporting period.

Measures are currently being taken to expand the use of factoring services as an alternative short-term financing tool within commercial banks.

As a result, the share of factoring in short-term financing rose from 1% in July 2024 to 6.1% in December 2024, and from 4.5% to 14.1% during January–September 2025.

By region, the largest shares of factoring services in January–September 2025 were recorded in Tashkent — 2.9 trillion soums (43.6%), Andijan region — 1.5 trillion soums (23.2%), Tashkent region — 506 billion soums (7.7%), and Fergana region — 345 billion soums (5.2%). The lowest figures were in Surkhandarya region — 39 billion soums (0.6%), Syrdarya region — 33 billion soums (0.5%), and Jizzakh region — 28 billion soums (0.4%).

By organizational form of clients, the largest share of services was provided to limited liability companies — 3.8 trillion soums (58%), joint-stock companies — 1.6 trillion soums (24.6%), enterprises with foreign capital — 933 billion soums (14.2%), and private, family-owned enterprises and farms — 210 billion soums (3.2%).

By annual turnover: 244 billion soums (4%) were provided to entities with turnover up to 1 billion soums; 459 billion soums (7%) to entities with turnover between 1 and 10 billion soums; 1.2 trillion soums (18%) to those with turnover from 10 to 100 billion soums; and 4.7 trillion soums (71%) to entities with turnover above 100 billion soums.

By financing terms: up to 30 days — 31% (2 trillion soums), 31–60 days — 17% (1.1 trillion soums), 61–90 days — 33% (2.2 trillion soums), 91–120 days — 11% (0.7 trillion soums), 121–180 days — 8% (0.6 trillion soums).

By transaction amount: up to 100 million soums — 1% (0.08 trillion soums), 100–500 million soums — 10% (0.7 trillion soums), 500 million–1 billion soums — 7% (0.5 trillion soums), 1–5 billion soums — 41% (2.7 trillion soums), above 5 billion soums — 41% (2.7 trillion soums).

By sector: industry — 3.5 trillion soums (53%), trade and services — 2.5 trillion soums (38%), construction — 268 billion soums (4%), agriculture — 297 billion soums (5%).

During January–September 2025, commercial banks provided international factoring services totaling 152 billion soums (2% of the total volume), all with recourse rights.

The leading banks in international factoring were: Mikrokreditbank — US$5.5 million (45%), O‘zmilliybank — US$3 million (25%), Asakabank — US$2.4 million (20%), Ipak Yo‘li Bank — US$946,000, €47,000, and 9.9 million rubles (9%), and Biznesni rivojlantirish banki — US$104,000 (1%).

By organizational form of international factoring clients: LLCs — 139 billion soums (91.4%), private/family enterprises and farms — 11 billion soums (7.5%), enterprises with foreign capital — 2 billion soums (1%).

By repayment terms for international factoring: up to 30 days — 4% (6 billion soums), 31–60 days — 13% (19 billion soums), 61–90 days — 37% (55 billion soums), 91–120 days — 23% (34 billion soums), 121–180 days — 24% (37 billion soums).

By contract amount for international factoring: up to 500 million soums — 4% (6 billion soums), 500 million–1 billion soums — 5% (8 billion soums), 1–5 billion soums — 52% (79 billion soums), above 5 billion soums — 39% (59 billion soums).

By sector of international factoring: industry — 81 billion soums (53%), trade and services — 68 billion soums (45%), agriculture — 3 billion soums (2%).

The main destinations for international factoring were: Russia — 137.8 billion soums (91%), Belarus — 10.3 billion soums (6.8%), Kyrgyzstan — 1.6 billion soums (1%), the United States — 1.3 billion soums (0.8%), and Italy — 0.7 billion soums (0.5%).

Commercial banks have developed products for domestic and international factoring, setting discount rates depending on the financing term (up to 180 days). For example, for domestic factoring with a term of up to 30 days: Asaka Bank — 2%, Uzsanoatqurilishbank — 1.84–2.5%, Kapitalbank — 2%, Hamkorbank — 2%; for international factoring: Asaka Bank — 1%, Uzsanoatqurilishbank — 1.25%, Kapitalbank — 1.2%, Hamkorbank — 1–1.3%.